917 North St

McComb, MS 39648

$179,500D

3 bd · 2.5 ba · 2,205 sqft · Built 1973 · SingleFamily · Active · 291 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$941
• Tax + insurance: −$201
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $43/mo
• Annual: $518/yr
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• 1% rule: 0.84%
• Cash to close: $50,260

Investor read

• This is a 3-bed/2.5-bath single-family listed at $180k.
• At list price, monthly cash flow is $43 ($518/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (16.4% below list).
• It's been on market 291 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (16.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#50 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Mccomb School District (town): math 15% / reading 16% proficiency, ranked #106 of 130 in MS (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 93% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Otken Elementary School (math 17% / reading 17%, grade F, #259 of 375 statewide, top 71%, 370 students, 100% FRL); Denman Junior High School (math 16% / reading 17%, grade F, #126 of 179 statewide, top 71%, 334 students, 100% FRL); Mccomb High School (math 15% / reading 12%, grade F, #153 of 197 statewide, top 78%, 627 students, 100% FRL).
• Market conditions: 192 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 291 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.